Well, poo.
I was was sitting on 1.2MM points a few weeks ago, and had literally told my wife "Hilton is practically firehosing points at folks lately (2k every day, that last good promo, app booking points, etc.) so I think they're due for a devalue."
I have never ever felt so bad to be right.
This week, I had a few reservations in Spain that were around 30k to 40k. Nice exec type Hiltons, not Hamptons, etc. I wound up having to cancel them due to a flight snafu, and wound up in Puerto Vallarta instead. 70,000 point rooms there (yes, I know an all-inclusive isn't apples-to-apples, but a Hilton PV rate used to be 50,000.)
My little jaunt to Mexico as an American was an excellent reflection / analogy of how Hilton Pesos are now valued.
Ive got to go to Vegas this week and the darn *Tropicana* is 50k!
I guess i rode rode out the last big deval with a million in the bank and cried then, too.
The too-late lesson I'm only starting to learn: don't bank your points for your future plans. Use them.